Sunday, November 04, 2007

Value Hunting

KLCI ends down 0.8% at 1397.48 in moderate volume but off intraday low of 1385.85 as intermittent bargain-hunting in blue chips helped narrow early losses, say dealers. Market remained negative throughout the day; decliners outpaced gainers 599 to 238. The benchmark may trade within 1383-1416 range next week with profit-taking into strength capping gains. Declines on Wall Street overnight and the softer regional markets weighed on investor sentiment but some investors took this opportunity to value hunt. The market may trade within a narrow range next week after gap down from 1409 to 1389.

Rebound is due


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